Louisville Market Watch

April 2019 Louisville Real Estate Report

Welcome to our April 2019 version of the Louisville real estate report. Here at LouisvilleHomesBlog.com, we boast the best analysis of local real estate in the city! And, of course, it’s all completely free. If you’d like Louisville’s real estate expert as your personal Realtor, please contact me. I’d love to help you with your transaction.

Now, onto the stats!

Louisville home sales chart and Louisville home prices chart for Jefferson County for the 12 months ending April 2019
2019 is falling farther behind the previous year in terms of homes sold.

For the month of April, there were just 953 properties sold. This is a fairly large decline—11.5 percent—from last April. For the year, we’re down 362 units. As we’ve discussed for months, the housing inventory shortage is largely to blame. This is especially true at the lower end of the price spectrum.

Checking out the situation of home prices, for the month of April 2019, the median home sale price was $179,000. This is up from the April 2018 value of $175,000.

Comparing averages, we actually have a decline, which is highly unusual. The average price of homes sold last month was $214,501. This time last year, the value was $219,982. Here in Louisville, real estate is really slowing down. big!

Map of Louisville MLS Areas
Louisville is divided into 10 MLS areas. There are also two for Oldham County and one each for Shelby, Spencer, and Bullitt. (Click map to enlarge)

Areas that are largely comprised of lower-priced homes are seeing higher gains. Areas, where homes are above $500,000, are seeing prices stagnate. Clearly, most of the demand coming from Louisville home buyers is highly focused on the lower priced properties.

Interest rates actually dipped recently, after all the experts claimed they would move higher. Eventually, they will. We’re just not there yet.

April 2019 Louisville Real Estate Analysis

Our city is divided into smaller MLS areas that also give you a snapshot that part of the city. Here’s a link to the Louisville MLS areas map. Below are the MLS areas we update each and every month.

Home sales chart and home prices chart for Highlands neighborhood in Louisville Kentucky for the 12 months ending April 2019 - MLS Area 2

Home sale prices took a big dip in Area 2 during April after seeing solid increases the previous two months. Then sales dropped as well. It doesn’t look like 2019 will be able to keep pace.

Home sales chart and home prices chart for St. Matthews neighborhood in Louisville Kentucky for the 12 months ending April 2019 - MLS Area 3

Things are slightly better here in Area 3 where at least the prices are slowing improving after a strangely strong winter.

Home sales chart and home prices chart for Okolona neighborhood in Louisville Kentucky for the 12 months ending April 2019 - MLS Area 6

Home sale prices are rising steadily. There’s not enough inventory for sales to keep up but there’s a great deal of new construction in Area 6 focused on the low end of the Louisville real estate market.

Home sales chart and home prices chart for Jeffersontown neighborhood in Louisville Kentucky for the 12 months ending April 2019 - MLS Area 7

It’s about time that prices are rebounding. Watching that trend-line decline was making me sad. The goal is slow and steady growth.

Home sales chart and home prices chart for Middletown neighborhood in Louisville Kentucky for the 12 months ending April 2019 - MLS Area 8

Area 8 came the closest trying to match the previous year. It just nearly won too! Prices here are all over the board. And it’s not like this is a tiny sample size either.

Home sales chart and home prices chart for Prospect neighborhood in Louisville Kentucky for the 12 months ending April 2019 - MLS Area 9

Decent sales numbers for Prospect and its surrounding areas. Home prices moving higher too, and they need to as the trend was starting to decline.

Home sales chart and home prices chart for North Oldham County Kentucky for the 12 months ending April 2019 - MLS Area 20

Prices good. Sales bad. Not much more to add as the picture tells the whole story.

Home sales chart and home prices chart for South Oldham County Kentucky for the 12 months ending April 2019 - MLS Area 21

Home sales in South Oldham County didn’t drop nearly as bad as they did north of I71 but they we don’t see the corresponding price gains. They came close though. But look at how the trend-line is roughly in the same spot today as it was a year ago.

Quarterly Housing Reports MLS Areas

All of the quarterly Louisville real estate reports are now completed thru the end of the year. Check out the links below or find them all in the drop-down menu at the top of each page.

If you want to know “What is my Louisville home worth?” Please contact me. I’m always happy to help!

About the author

Tre Pryor, Editor-in-Chief

Tre Pryor is the recognized expert Louisville Realtor who can:
  • List and sell your current home in Louisville,
  • Help you purchase your next Louisville home, or
  • Guide you in your relocation to Louisville, Kentucky
» Contact Tre now!